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PRESS RELEASE
Total Income at Rs. 218.98 Cr. up by 42% from Rs. 153.92 Cr.
Profit after Tax (PAT) at Rs 5.40 Cr. up by 225% from Rs 1.66 Cr.
Total Income at Rs. 441.15 Cr. up by 62% from Rs. 271.59 Cr.
Profit after Tax (PAT) at Rs 8.05 Cr. up by 179% from Rs 2.89 Cr.
MANAGEMENTS STATEMENT
Commenting on the results, Mr. Arvind Kajaria, Managing Director said, "We are pleased with our
performance this past quarter where clearly, benefits from automation translated into an increase in
margins. We continue to believe, that as we achieve economies of scale, it will lead to better
efficiencies enabling us to have a competitive edge in an ever expanding market.
We are well positioned to enter the holiday season with key improvements across assortment,
merchandising and marketing - and look forward to further strengthen our position as one of the top
growing online retailers in US.
In October, our subsidiary 123Stores, Inc, secured a $8.0 million Line of Credit from UPS Capital, a
subsidiary of UPS, one of the worlds largest package delivery company and a provider of supply
chain management solutions. This facility provides added funding to support our growth and strategic
initiatives. This financial flexibility will substantially lower our cost of capital, drive significant revenues
and profitability to meet our strategic goals as we continue to build long-term shareholder value. We
believe that the leverage that this facility affords us will enable us to eliminate further equity dilution.
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Highlights
E-COMMERCE BUSINESS
The E-Commerce business saw tremendous performance growth and improvement in all parameters
during the quarter.
Revenue:
Particulars
E-Commerce Revenue
Q2 FY 2016-17
Q2 FY 2015-16
Growth (%)
215.01 Cr.
150.59 Cr.
43%
E-Commerce Revenues increased from Rs 150.59 Cr. to Rs 215.01 Cr. during the quarter, a growth of
43% Y-o-Y. This growth was across all product categories, with Furniture, Patio, Lawn & Garden being
the largest contributor.
The Company added 37 new suppliers and 20,000 products during the quarter taking the total to 1783
Suppliers & 555,000 Unique Products.
The Top Product Categories by Revenues during Q2 FY2016-17 were
Product Categories
% of Sales
34%
16%
15%
12%
11%
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10%
Others
2%
Orders:
Particulars
Q2 FY 2016-17
Q2 FY 2015-16
Growth (%)
669,714
377,083
78%
Orders
The Number of Orders grew tremendously over the quarter from 377,083 to 669,714, a growth of
78% Y-o-Y. Our proprietary technology platform allows us to scale order volumes with minimal human
intervention, enabling cost savings as we grow volumes.
The Number of Orders Shipped during the last 5 quarters were
Quarter
Orders
Q2 2016-17
669,714
Q1 2016-17
623,299
Q4 2015-16
531,070
Q3 2015-16
767,186
Q2 2015-16
377,083
Gross Margin:
Particulars
Q2 FY 2016-17
Q2 FY 2015-16
Improvement (%)
80.2%
82%
1.8%
Gross Margin
19.8%
18%
As the sales momentum continues to improve, we are continuing to see an improvement in Gross
Margins from our existing products and suppliers, evidenced in our margin improvement from 18% to
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19.8% Y-o-Y. As the sales momentum continues to improve, the overall Cost of Goods Sold will trend
downwards as we derive benefits from economies of scale.
Inventory:
As on 30th September, 2016, Inventory at our fulfillment centers was Rs. 58.32 Cr.
Inventory Turnover, average (Trailing Twelve Months) was 10.7, reflecting an increase in inventory for
the Holiday Season.
Additionally, Goods in transit as on 30th Sept 2016 was Rs. 24.23 Crore to cater to the Holiday Season
demand.
Accounts Payable Days:
As on 30th September, 2016, Accounts Payable days (Trailing Twelve Months) for our E-Commerce
Business stood at 17 Days up from 14 days in the previous quarter, reflecting improvement in our
Working Capital efficiency.
Accounts Receivable Days (Trailing Twelve Months) remained constant at 4 Days.
Revenue per Employee:
Revenue per employee increased from Rs. 278 Lakhs (TTM Q2-FY16) to Rs. 462 lakhs (TTM Q2-FY17)
as we increased investments in our technology, leading to higher levels of automation. We expect
gains in productivity to continue as automation and process optimization drive efficiencies.
OTHER INCOME
The increase in Other Income was due to switching among schemes in the Mutual Fund Portfolio.
CONFERENCE CALL
IntraSoft Technologies Limited will host a conference call to discuss the Quarterly & Half Yearly
Financial Performance for Q2 FY2016-17 on Tuesday, November 8th, 2016 at 12.30 p.m. (IST).
Investors and participants can access the call by dialing either of the following access numbers.
Access Numbers
Primary Number:
Secondary Number:
The Participants from IntraSoft Technologies Ltd would be Mr. Arvind Kajaria (Managing Director)
and Mr. Mohit Kumar Jha (Chief Financial Officer). An archive of the conference call transcript will
be available at www.itlindia.com.
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IntraSoft Technologies Limited also owns & operates 123Greetings.com, the world's leading online
destination for human expressions reaching 95 million visitors annually.
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